In today’s briefing:
- S&P 500, Nasdaq 100 Testing Bull Flag Supports; Bullish Breadth Divergences; Buy the Pullback
S&P 500, Nasdaq 100 Testing Bull Flag Supports; Bullish Breadth Divergences; Buy the Pullback
- Rising DXY, Treasury yields, and now energy commodities breaking out (Bloomberg Commodity index $DJP and WTI crude oil) suggests upside is likely to be capped, but…
- …we still continue to see many other risk-on signals. As a result, we view this pullback as a buying opportunity, with all the major indexes testing/holding at support
- Looking for support on the S&P 500 at 5850, the 100-day MA (currently 5820), 5765-5770, and 5600-5670. As long as the S&P 500 remains above 5600-5670, our outlook remains bullish